Utah International Finance Corporation

Utah International Finance Corp. used the net proceeds from this transaction to invest in or loan to subsidiary and affiliate companies of Utah Construction & Mining Co., its parent company, operating outside of the United States to assist them in meeting their obligations and in financing their expansion programs and working capital requirements. The funds may also have been used for direct or indirect investments in other companies operating outside the United States. The proceeds may have been invested temporarily until permanent investments were made in short-term investments outside of the United States.